Zendesk stock surges as results, outlook top Street view
Zendesk Inc. (ZEN) shares rallied in the extended session Thursday after the enterprise-software company's results and outlook topped Wall Street estimates. Zendesk shares surged 7.5% after hours, following a 1.8% rise in the regular session to close at $106.03. The company reported a third-quarter loss of $40.7 million, or 35 cents a share, compared with $34.2 million, or 31 cents a share, in the year-ago period. Adjusted earnings were 18 cents a share. Revenue rose to $261.9 million from $210.5 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 11 cents a share on revenue of $253.7 million. For the fourth quarter, Zendesk expects revenue of $274 million to $279 million, while analysts had forecast revenue of $273.6 million. The company also said it would "no longer occupy" two of the office buildings it had leased in San Francisco, and that it expects to record a charge of $13 million to $17 million as a result.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 29, 2020 17:59 ET (21:59 GMT)
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